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Who's Afraid of Adam Smith?: How the Market Got Its Soul

Who's Afraid of Adam Smith?: How the Market Got Its Soul

Peter J. Dougherty

ISBN: 978-0-471-47177-6 April 2003 240 Pages




"Peter Dougherty does the near-impossible in this brilliant book . . . [he] makes economics engaging and accessible." --Professor Larry J. Sabato, University of Virginia
In this spirited and timely book, Peter Dougherty shows how economists are drawing on Adam Smith's civic writings to illuminate how the market creates not only fiscal capital, but "social capital." Dougherty demonstrates how Smith's ideas are currently experiencing a renaissance. He then explores several impressive initiatives to demonstrate what today's theoretical and practicing economists are accomplishing in the spirit of Adam Smith's moral sentiments: the institutional reform of transitional and developing economies; the financing of new technological, medical, and educational initiatives; and the economic revival of cities. Capitalism pervades every aspect of our daily life. Peter Dougherty now offers a fascinating peek at its hidden soul.

1. Letter Man 1

2. The Instructions 21

3. The Warning 30

4. Little Platoons 36

5. Enlightenment Wonk 47

6. Soul Survivors 65

7. Dragon Slayers 85

8. Comeback Kid 109

9. Kitchen Chemists 123

10. Egg Men 148

11. Urban Outfitters 167

Epilogue: Go with the Flow 185

Notes 191

Bibliography 210

Index 215